5 ms·

Asserting something confidently does not make it so. http://www.aim.org/newswire/obama-sequester-ii-treasury-says-default-is-mid-october/ http://www.aim.org/ne

by penrod 13y ago

Asserting something confidently does not make it so. http://www.aim.org/newswire/obama-sequester-ii-treasury-says-default-is-mid-october/ http://www.aim.org/newswire/obama-sequester-ii-treasury-says...

seoguru 13y ago
As John T. Harvey says: there is 0% chance that the US will be forced to default on the debt. We could choose to do so, just as a person trapped in a warehouse full of food could choose to starve, but we could never be forced to. This is not a theory or conjecture, it is cold, hard fact. http://www.forbes.com/sites/johntharvey/2012/09/10/impossible-to-default/ http://www.forbes.com/sites/johntharvey/2012/09/10/impossibl...
- penrod 13y ago
  "there is 0% chance that the US will be forced to default on the debt." That might be relevant if someone on the thread had claimed such a thing.
  - seoguru 13y ago
    Just clarifying. There are many that believe that the US can be forced to default. I didn't mean to imply that you were one of them.
  - onebaddude 13y ago
    >"That might be relevant if someone on the thread had claimed such a thing." It's extremely relevant to the argument at hand. In case you didn't read the article, it's about Detroit going bankrupt, to which other commentators have drawn an analogy to the country that makes no sense. That's what we're talking about here. But I'm glad you feel good pride in finding something tangential to the real topic so you can say, "Nuh-uh! You're wrong!". Yes, we can decide tomorrow to cease paying interest on our public debt, which would put us into default. Brownie points for you.
    - penrod 13y ago
      No, the analogy being drawn between Detroit and the USA is that they both have shit-loads of debt. Of course the feds would inflate debt away with QE rather than defaulting. The real tangent is to claim that this makes such a world of difference that we don't need to worry about the federal debt. BTW: Although your statement that "the federal government cannot default" was literally false, my response to it was overly pedantic.
onebaddude 13y ago
>"Asserting something confidently does not make it so." You're pointing to the debt ceiling as an argument? It's political posturing. You know, to scare the plebes. Apparently it works. The article is referring to a "default" because of some artificial cap placed on spending, which proposed spending would surpass. It's a technical default, by choice, not from inability to pay. You can argue until you're blue in the face about the risk of default. It's wrong-headed.
- deleted 13y ago
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by penrod 13y ago

seoguru 13y ago

As John T. Harvey says: there is 0% chance that the US will be forced to default on the debt. We could choose to do so, just as a person trapped in a warehouse full of food could choose to starve, but we could never be forced to. This is not a theory or conjecture, it is cold, hard fact. http://www.forbes.com/sites/johntharvey/2012/09/10/impossible-to-default/ http://www.forbes.com/sites/johntharvey/2012/09/10/impossibl...

penrod 13y ago
"there is 0% chance that the US will be forced to default on the debt." That might be relevant if someone on the thread had claimed such a thing.
- seoguru 13y ago
  Just clarifying. There are many that believe that the US can be forced to default. I didn't mean to imply that you were one of them.
- onebaddude 13y ago
  >"That might be relevant if someone on the thread had claimed such a thing." It's extremely relevant to the argument at hand. In case you didn't read the article, it's about Detroit going bankrupt, to which other commentators have drawn an analogy to the country that makes no sense. That's what we're talking about here. But I'm glad you feel good pride in finding something tangential to the real topic so you can say, "Nuh-uh! You're wrong!". Yes, we can decide tomorrow to cease paying interest on our public debt, which would put us into default. Brownie points for you.
  - penrod 13y ago
    No, the analogy being drawn between Detroit and the USA is that they both have shit-loads of debt. Of course the feds would inflate debt away with QE rather than defaulting. The real tangent is to claim that this makes such a world of difference that we don't need to worry about the federal debt. BTW: Although your statement that "the federal government cannot default" was literally false, my response to it was overly pedantic.

onebaddude 13y ago

>"Asserting something confidently does not make it so." You're pointing to the debt ceiling as an argument? It's political posturing. You know, to scare the plebes. Apparently it works. The article is referring to a "default" because of some artificial cap placed on spending, which proposed spending would surpass. It's a technical default, by choice, not from inability to pay. You can argue until you're blue in the face about the risk of default. It's wrong-headed.

deleted 13y ago
[deleted]